How franchise consultants can help you to successfully franchise your business
Franchise consultants often provide an essential role in helping business owners to franchise in the UK. Not only can they offer information and advice on how to franchise a business, they also usually have valuable contacts within the legal and financial professions.
Due to the impact franchise consultants can have on the success of a franchise network it is essential that when deciding which consultant to work with business owners contact more than one franchise consultancy business. This will enable them to get a good idea of the different franchise consultants companies in the UK and their various experience, contacts and industry knowledge.
It is probably best to choose a company that has been consulting for a number of years, as they will often have more experience in helping business owners from a variety of sectors to successfully franchise their concepts.
Some franchise consultant companies, such as Franchise Development Services (FDS), will offer seminars giving those new to franchising information on how to franchise their business. The FDS seminars cover a range of topics including: the three ways to franchise any business; how long it takes to successfully franchise a business; outline of a Franchise Development Business Plan; estimated time scales and budget requirements; and the importance of the evaluation analysis.
As well as guiding franchisors through the initial stages of franchising their business, franchise consultants will also offer advice on recruiting suitable franchise owners to the network. A good consultant will have contacts within the industry’s media, so business owners will be able to advertise their opportunity in magazines and on websites that are read by those looking to own a franchise.
Once a new franchisor has started recruiting their first franchise owners a good franchise consultant will stay in contact to provide assistance on the steady growth of the franchise network. This is important as some franchisors run into trouble by expanding their network either too quickly (resulting in a drop in the quality of training and support provided to franchise owners) or too slowly (resulting in the brand stagnating).
Furthermore, some franchise consultants will have experience franchising brands internationally, so once the UK franchise expansion targets have been met they will provide guidance for international expansion.
Due to franchise consultants often guiding franchisors through all aspects of franchising their businesses, the relationship between the two should not be looked at a short-term affair but rather a long-term partnership. Franchise consultants provide franchisors with contacts, information and experience, which can prove invaluable when a business owner decides to grow through franchising.